Statistics for Tuesday December 7
Note: Statistics are compiled based on our custom symbol universe of the most heavily traded stocks.
| Symbols in Up Swings | 322 |
|---|---|
| Symbols in Down Swings | 447 |
| Up/Down Swing Ratio | 0.72 : 1 |
| Advancers | 13% |
| Decliners | 87% |
| Unchanged | 1% |
| Close > 20EMA | 13% |
| Close > 50SMA | 74% |
| Close > 200SMA | 67% |
| 20EMA > 50SMA > 200SMA (trend up) | 48% |
| 20EMA < 50SMA < 200SMA (trend down) | 9% |
While almost 1/2 of our symbol list remains in up-swings, one can’t help but think that most of these will change with even a marginal down day on Wednesday. Since Friday the number of stocks trading above their 20 period moving average has dropped 43 points from 56% to 13%. While the longer term averages are still underneath most stocks, clearly its time to pay very close attention to the direction of individual stock names we may hold in our portfolios.
Myself, I have not had this much cash in my portfolio since the summer. Trailing profit taking stops have been knocking me out of positions one by one over the past two weeks. Unsurprisingly this behaviour, in a market which everyone seems to believe is going much higher, is another data point that helps underscore the cautionary case we’ve been building.
As we’ve discussed in TrendVue Trader Talk, the market isn’t officially in a new trend down until a number of hurdles are crossed. Price isn’t there yet, and may not go there for all we know, but for the time being caution remains warranted.
04.12.07 22:46 #